Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.33% against the USD and closed at USD1802.10 per ounce on Friday.
In the Asian session, at GMT0300, the pair is trading at 1808.90, with gold trading 0.38% higher against the USD from Friday’s close, as a weaker dollar and growing worries over rising COVID-19 cases around the globe increased demand for the safe-haven metal.
The pair is expected to find support at 1797.93, and a fall through could take it to the next support level of 1786.97. The pair is expected to find its first resistance at 1818.43, and a rise through could take it to the next resistance level of 1827.97.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
